This is a sample form for use in Tennessee, a Transfer Under the Tennessee Uniform Transfers to Minors Act. Adapt to fit your circumstances. Available in standard formats.
The California age of majority for TMA, or Uniform Transfers to Minors Act, is an important legal concept that determines when a minor gains full control over assets held in a TMA account. In California, the age of majority for TMA is 18 years old. TMA accounts serve as a custodial arrangement where a minor receives gifts, inheritances, or transfers of property from a donor. These assets are managed by a custodian until the minor reaches the age of majority. At that point, the minor gains complete control over the TMA account and can use the assets as they see fit. It's important to note that California only has one age of majority for TMA, which is 18 years old. This means that once a minor turns 18, they are legally considered an adult and can make independent decisions regarding the assets held in their TMA account. The California age of majority for TMA is a pivotal milestone in a minor's financial journey. It signifies their transition into adulthood and the full legal ownership of the assets they have accrued over the years. Understanding the age of majority is crucial for both minors and custodians involved in TMA accounts to effectively plan for the future. Overall, the California age of majority for TMA is 18 years old, and this marks the point at which a minor gains full control over assets held in a TMA account. It is the only age of majority applicable for this type of account in California.
